\begin{tikzpicture}[x=1.2cm]

\draw[<-,thick,>=latex]
  (-1,0) -- (1,0) node[below right] {};
\draw[dashed] (1,0)--(2,0);  
\draw[-,thick,>=latex]
  (2,0) -- (5,0) node[below right] {};  
\draw[dashed] (5,0)--(6,0);  
\draw[->,thick,>=latex]
  (6,0) -- (8,0) node[below right] {};  

  
\foreach \x in {0,3,4,7}
\draw(\x ,3pt) -- (\x , -3pt);


\draw (0,0) node[below=3pt] {$T_0$};
\draw (3,0) node[below=3pt] {$T_1$};
\draw (4,0) node[below=3pt] {$T_2$};
\draw (7,0) node[below=3pt] {$T_3$};

    \draw[decorate, decoration={brace, amplitude=5pt},] ([yshift=0.3cm]0,0)-- node[above=3pt]
         {$\approx$ 5 days}([yshift=0.3cm]3,0);

%    \draw[decorate, decoration={brace, mirror, amplitude=7pt},] ([yshift=-1.3cm]0,0)-- node[below=3pt]
%         {$\approx$ 5 days}([yshift=-1.3cm]3,0);

    \draw[decorate, decoration={brace, mirror, amplitude=5pt},] ([yshift=-1.3cm]3,0)-- node[below=3pt]
         {$<30$ min}([yshift=-1.3cm]4,0);

    \draw[decorate, decoration={brace, amplitude=5pt},] ([yshift=0.3cm]4,0)-- node[above=3pt]
         {$\approx$ 3 days}([yshift=0.3cm]7,0);

\node[below=15pt,align=left,anchor=north,inner xsep=0pt] 
  at (0,0) 
  {Announcement \\ Bidding opens};
  
\node[below=15pt,align=left,anchor=north,inner xsep=0pt] 
  at (3,0) 
  {Close};
  
\node[below=15pt,align=left,anchor=north,inner xsep=0pt] 
  at (4,0) 
  {Results};
  
\node[below=15pt,align=left,anchor=north,inner xsep=0pt] 
  at (7,0) 
  {Issuance};
\end{tikzpicture}
